The Wall Street Journal

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  • Wall Street Journal Columnist Praises Trump’s $100 Billion Gift To Wall Street

    The Journal’s Greg Ip Calls Trump’s Watering Down Of Consumer Protections “Regulatory Relief”

    Blog ››› ››› ALEX MORASH

    The Wall Street Journal’s top financial columnist praised President Donald Trump for issuing executive orders aimed to scale back consumer protections in the financial industry because the rollbacks would boost profits for big banks, ignoring the reality that the rules were put in place to protect the public, not the banking industry.

    The Journal’s chief economics commentator, Greg Ip, hailed recent actions by Trump to curb government oversight of big banks in a February 8 column, claiming this would provide “regulatory relief” by addressing “a serious flaw” in banking regulations that focused merely on “financial stability and consumer protection” and “largely ignored the [regulatory] costs.” Ip noted that consumer advocate Sen. Elizabeth Warren (D-MA) and European Central Bank president Mario Draghi took issue with letting banks have more leeway, but he dismissed their concerns, stating, “The worriers should relax.” From The Wall Street Journal:

    The worriers should relax. In the 10 years since the financial crisis began, the regulatory pendulum has moved relentlessly in the direction of tougher restrictions on finance. Mr. Trump’s order reverses the direction of the pendulum but there is little sign his administration wants it back to where it was in 2007.

    His order does, however, address a serious flaw in the post-crisis regulatory crackdown: In pursuit of financial stability and consumer protection, it largely ignored the costs of forgone lending, economic growth and consumer choice. Mr. Trump has signaled those costs must now be taken into account. He has asked his Treasury Secretary (now awaiting confirmation) to report back in 120 days on how well current regulations promote growth, efficiency and competitiveness. Over time, that could generate a better balanced supply of credit to a wider range of companies and households without making the financial system much riskier.

    Ip continued that the consumer protections built into the Dodd-Frank Act, the CARD Act, and the Department of Labor’s fiduciary rule, which requires financial advisers to work in their clients’ best interests, “have carved into banks’ profitability” since their pre-recession peak. Ip concluded that the rules enacted after the 2008 financial crisis do little to prevent another financial crisis, except for rules that increased the amount of hard money a bank must hold in reserve relative to its debt risks. But Ip claimed the Trump administration “doesn’t appear to plan on rolling [capital requirements] back much.”

    The executive orders that Ip praised directed departments to account for the regulatory costs of consumer protections when deciding which rules to roll back, which the Journal’s own reporting has concluded could create a $100 billion windfall for investors by loosening capital requirements at banks. These capital requirements are the same ones that Ip argued stand “the best chance of preventing another financial crisis.”

    Ip argued that “a serious flaw” in the current slate of consumer protections is that they focus on protecting consumers and “in theory” could “reduce growth,” but in reality the three biggest banks reported strong fourth quarter earnings last year and CNBC reported that banks enjoyed record profits in the second quarter of 2016. These reports coincide with a February 2016 report from the Government Accountability Office (GAO), which found that the regulatory structure created after Dodd-Frank “has contributed to the overall growth and stability in the U.S. economy.”

    Ip’s emphasis on bank profits fails to recognize that Dodd-Frank, the CARD Act, and the fiduciary rule are designed to minimize exploitation, not maximize profit. Dodd-Frank was enacted to protect the economy by empowering the Federal Reserve System with broader banking oversight and created new protections for consumers through the Consumer Financial Protection Bureau (CFPB). The CARD Act created even more protections for consumers, including limiting interest rate hikes on credit cards. The fiduciary rule ensures consumers receive financial advice catered to their best interests rather than their adviser’s bottom line, something that Ross Eisenbrey of the Economic Policy Institute (EPI) characterized as a“no-brainer” given that the investment advice industry “makes billions of dollars from conflicted advice.”

    If Ip really wants the Trump administration to focus on increasing bank profits, heaping praise on executive orders that will weaken the economy and undermine an already profitable financial industry is a bizarre place to start. Jeff Spross of The Week put it bluntly in a February 6 column blasting Trump’s regulatory rollback: “Who on Earth would view deregulating the financial industry as a good idea?” Writing for The Guardian, Nils Pratley didn’t mince words either, characterizing the concept that banks are over-regulated as a “half-baked idea” and “nonsense” while adding that there is little evidence of consumer protections standing in the way of the industry’s growth.

    Ip’s decision to defend Trump’s attempts to deregulate the financial sector may lend credence to reports that the Journal is intentionally taking a softer tone with the president and pressuring reporters “to reflect pro-Trump viewpoints” in articles. The Journal’s behavior is not surprising, as its right-wing editorial board has led a years-long campaign against consumer protections.

  • Mainstream Media Echoes Pro-Trump Fringe, Credit Trump For New GM Jobs That Were “Planned For Months”

    ››› ››› BOBBY LEWIS

    General Motors (GM) announced a $1 billion investment in US jobs and factories that it stressed at the time was “part of the normal process” and had “been planned for months.” Nonetheless, several major media outlets gave credit to Trump in either their headlines or first few paragraphs, downplaying that the decision was previously planned. Many pro-Trump outlets earlier did the same or framed the decision entirely as a Trump-influenced effort, some by referencing a tweet Trump wrote in early January in which he threatened a “big border tax” if GM sells Mexican-made cars in the United States.

  • Wall Street Journal Invents Reasons For Trump To Gut Consumer Financial Protection Bureau

    Will Right-Wing Media’s Campaign To Destroy The Consumer Watchdog Succeed Under Trump?

    Blog ››› ››› ALEX MORASH

    The Wall Street Journal’s editorial board joined Republican senators in urging the president-elect to fire the director of the Consumer Financial Protection Bureau (CFPB), Richard Cordray, for “a menu of reasons” ranging from the agency’s crackdown on racial prejudice in auto loans to the cost of building renovations.

    The CFPB was set up in the wake of the financial crisis as part of a new regulatory network constructed by the Dodd-Frank Act and has been a target of conservative media misinformation ever since, most of which has focused on the agency’s supposed overreach in protecting American consumers from predatory corporate behavior. The Journal’s editorial on January 9 calling on Donald Trump to fire Cordray “for cause” after Trump assumes the presidency followed calls for Cordray’s termination by Republican Sens. Mike Lee (R-UT) and Ben Sasse (R-NE). Among the reasons the Journal claimed as justification for Cordray’s termination was the CFPB’s allegedly poor handling of anti-discrimination regulations, its supposed failure to comply with Freedom of Information Act (FOIA) requests, and reports of racial and gender discrimination from CFPB employees. From The Wall Street Journal:

    Meantime, Mr. Trump should fire Mr. Cordray for cause, and the President-elect has a menu of reasons. Take a CFPB auto-loan campaign, which involved guessing the race of a borrower by his last name, and then suing banks that seemed to offer better deals to people the government assumed are white. A House Financial Services Committee report detailed how Mr. Cordray and senior officers knew their statistical method was “prone to significant error” but hid that reality from the public.

    Mr. Cordray’s bureau routinely fails to show the reasoning behind its rules. In December the Cause of Action Institute filed a lawsuit against CFPB for refusing to produce more than 1,800 pages of documents on how the agency came up with a regulation on arbitration. Such disclosures are required by the Freedom of Information Act.

    [...]

    An investigation of CFPB employment practices by the Government Accountability Office found that a quarter of black, Asian and female respondents reported that they had been discriminated against. About 10% claimed to have personally observed retaliation against another employee. The bureau neglected to fulfill seven Inspector General recommendations in this area. Mr. Cordray also stood by while a CFPB office renovation notched more than $100 million in cost overruns.

    The Journal’s supposed evidence that the CFPB is a “lawless and unprofessional agency [that] deserves a dose of political accountability” does not hold up to scrutiny.

    The Journal has attacked the CFPB before for standing up to discrimination in auto lending after the agency drafted new guidance on interest rate markups and facilitated compensation for American consumers who had been the targets of discrimination. In November 2015, the Center for Responsible Lending concluded that the CFPB’s regulatory changes had the added benefit of saving all consumers money. The Journal's complaint that CFPB is not forthcoming enough with FOIA requests specifically cites a lawsuit from Cause of Action, a Koch-funded front group. The editorial’s allegation of rampant discrimination at the agency also ignored that it was the CFPB that initiated a self-assessment of its employee evaluations, as part of the “standards for equal employment opportunity” mandated by Dodd-Frank, and the Government Accountability Office (GAO) report alluded to by the Journal actually found that the agency “has worked to strengthen personnel management practices and enhance its diversity and inclusion efforts.” Even the Journal’s accusation of mismanagement and cost overruns in the agency’s office renovation falls flat: The Federal Reserve Inspector General found that “construction costs appear reasonable” and that the agency’s building “costs are below the amount previously budgeted.”

    While the editorial attacked the CFPB, and Cordray, for problems that the agency took steps to fix years ago, it completely ignored the agency’s successes. According to a December 2, 2015, article in The New York Times, the CFPB has “seized upon its mission” to rein in abuses in financial services under Cordray, including cracking down on predatory for-profit colleges, arranging forgiveness of $480 million of student loans, and ordering the reimbursement of nearly $700 million to Citigroup customers swindled by illegal credit charges. Since its inception, the agency had “provided for $11 billion in relief for over 25 million customers,” according to the Times.

    The demands for Cordray’s termination mark the culmination of a years-long conservative campaign to undermine the agency. As New York magazine pointed out in a December 29 article, Cordray will be “one of the few adversaries of Wall Street” left after Republicans assume control of the federal government, and for conservatives, “Cordray’s success at enacting new regulations is a bug, not a feature.”

  • The Media Keep Failing To Publish Accurate Headlines About Trump: An Updated List

    ››› ››› MEDIA MATTERS STAFF

    Before and since the election, media outlets have repeatedly failed to write headlines that adequately contextualize President-elect Donald Trump’s lies. Simply echoing his statements normalizes his behavior and can spread disinformation, particularly given the high proportion of people who read only headlines. Below is an ongoing list documenting the media’s failure to contextualize Trump’s actions in headlines and sometimes on social media. Some of the initial versions were subsequently altered (and these are marked with an asterisk), but many of the updates still failed to adequately contextualize Trump’s remarks.

  • Trump Administration Echoes Right-Wing Media Claims That Intelligence Agencies Are Politicized

    ››› ››› MEDIA MATTERS STAFF

    The Wall Street Journal reported Donald Trump plans to “restructure and pare back” the Office of the Director of National Intelligence due to his belief it has become “bloated and politicized.” Trump’s belief that the DNI has become politicized echoes right-wing media conspiracies attempting to delegitimize intelligence reports that found Russian government directed compromises of emails during the 2016 election cycle.

  • Headlines Tout Trump’s False Claim That Intel Briefing “Was Delayed,” Omitting Intelligence Community’s Pushback

    ››› ››› NICK FERNANDEZ

    Multiple outlets pushed President-elect Donald Trump’s false claim on Tuesday, January 3, that an intelligence briefing had been “delayed until Friday” because officials “needed” extra time “to build a case” regarding Russian meddling in the 2016 election. While some outlets noted in their headlines that intelligence officials have said that there was never a briefing scheduled for January 3, many others simply framed their headlines around Trump’s false claim that the briefing had been “delayed.”

  • VIDEO: WSJ’s New Op-Ed Boss, James Taranto, Has A Problem With Women

    Blog ››› ››› OLIVER WILLIS

    James Taranto of The Wall Street Journal announced that he would be leaving the paper’s “Best of the Web” column to run “the op-ed pages of the newspaper and its digital counterparts” as editorial features editor.

    Taranto has a long history of producing overtly sexist content at the Journal. He has claimed that “female sexual freedom” has led to a “war on men,” said attempts to address sexual assault in the military were becoming an “effort to criminalize male sexuality,” and argued that "contemporary feminism" is “based on a false theory of equality.”

    Here is a video compilation of some of the worst sexism from James Taranto:

  • First Amendment Watch: December 2016

    ››› ››› ZACHARY PLEAT

    During his 2016 campaign for president, Donald Trump launched an unprecedented war on the press. Since his election, Media Matters has tracked his and his team’s continuing attacks on the media and their abandonment of presidential norms regarding press access, which poses a dangerous threat to our First Amendment freedoms. Following is a list of attacks President-elect Donald Trump made against the media -- and instances in which he demonstrated disregard for the press -- during the month of December 2016.

  • The 15 Most Ridiculous Things That Media Figures Said About Environmental Issues In 2016

    Blog ››› ››› KEVIN KALHOEFER & ANDREW SEIFTER

    Donald Trump and the presidential election dominated news coverage in 2016. But talking heads still found plenty of time to make jaw-dropping comments about climate change, energy, and the environment. This year’s list of ridiculous claims includes a dangerous conspiracy theory about Hurricane Matthew, over-the-top worship of fracking and coal, and absurd victim-blaming around the Flint water crisis. Here is our list of the 15 most ridiculous things that media figures said about climate, energy, and environmental issues in 2016.

    1. Rush Limbaugh And Matt Drudge Peddled A Reckless Conspiracy Theory Downplaying The Threat From Hurricane Matthew. Shortly before Hurricane Matthew made landfall in the U.S., Rush Limbaugh and Matt Drudge concocted a conspiracy theory that the federal government was overstating the hurricane’s severity in order to manufacture concern about climate change. On The Rush Limbaugh Show, Limbaugh accused the National Hurricane Center of "playing games" with hurricane forecasting and added, “It's in the interest of the left to have destructive hurricanes because then they can blame it on climate change, which they can desperately continue trying to sell.”

    Limbaugh doubled down on this theory the next day, telling his audience, “There’s politics in the forecasting of hurricanes because there are votes.”

    Drudge, the curator of the widely read Drudge Report website, promoted the conspiracy as well, suggesting that federal officials were exaggerating the danger posed by Hurricane Matthew “to make [an] exaggerated point on climate.”

    [Twitter, 10/6/16]

    [Twitter, 10/6/16]

    Drudge also used his website to persuade Southeast residents not to take the storm seriously, with a banner “STORM FIZZLE? MATTHEW LOOKS RAGGED!” and additional headlines “IT’S A 4?” and “RESIDENTS NOT TAKING SERIOUSLY...”.

    Climate scientist Michael Mann explained that people "could die because of the misinformation that folks like Rush Limbaugh and Matt Drudge are putting out there," and two actual hurricane experts provided a point-by-point rebuttal of Drudge’s claims. But that did nothing to dissuade Drudge, who refused to give up on the conspiracy theory.

    2. Fox News Blamed The Flint Water Crisis On Climate Change Policies, "PC Stuff,” And Even Flint Residents Themselves. National media outlets largely ignored the water crisis in Flint, MI, as it unfolded over almost two years, but when the story did finally make national headlines, Fox News pundits were quick to pin the blame on anyone and anything other than the Republican governor of Michigan.

    On Fox & Friends, host Heather Nauert and guest Mark Aesch suggested that “misplaced priorities,” including climate change and “PC stuff,” allowed the water crisis to happen:

    And on The Kelly File, Fox News digital politics editor Chris Stirewalt placed blame on Flint residents themselves, saying that the "people of Flint should have been protesting in the streets" after noticing that their water was poisoned. Stirewalt also blamed Flint parents for giving their children contaminated water, declaring: "If you were pouring water into a cup for your child and it stunk and it smelled like sulfur and it was rotten, would you give that to your child? No, you'd revolt, you'd march in the street." In addition to being offensive, Stirewalt’s comments were premised on a falsehood; Flint residents did in fact repeatedly protest throughout the year to demand safe drinking water for their families.

    3. CNN’s Alisyn Camerota Claimed Trump EPA Nominee Scott Pruitt “Hasn’t Denied Global Warming.” Oklahoma Attorney General Scott Pruitt, President-elect Donald Trump’s choice to head the Environmental Protection Agency, is a climate science denier who has refused to accept the clear consensus of the scientific community that human activities such as burning fossil fuels are primarily responsible for global warming. Yet according to CNN New Day anchor Alisyn Camerota, Pruitt simply “sees nuance” and “hasn’t denied global warming.” Camerota falsely claimed that Pruitt only disputes climate “predictions” and “forecasts,” when in fact he has also denied that global warming is human-caused, and even Camerota's premise that climate models are unreliable is incorrect. As Camerota wrongly absolved Pruitt of climate denial, CNN’s on-screen text read: “Climate Change Denier Scott Pruitt To Lead EPA.” Co-anchor Chris Cuomo also pushed back on Camerota, stating that Pruitt “says it’s ‘far from settled.’ That means he’s not accepting the science.”

    Camerota badly butchered climate science, but it's noteworthy she was even discussing the issue given CNN’s spotty track record. In April, a Media Matters analysis found that CNN aired almost five times as much oil industry advertising as climate change-related coverage in the one-week periods following the announcements that 2015 was the hottest year on record and February 2016 was the most abnormally hot month on record. And in one segment later in the year where CNN did cover climate change, CNN Newsroom host Carol Costello speculated, “Are we just talking about this and people's eyes are glazing over?”

    4. MSNBC's Mike Barnicle: ExxonMobil CEO Rex Tillerson "Is A Huge Green Guy.” Trump’s nominee for secretary of state, Rex Tillerson, is the chairman and CEO of ExxonMobil, one of the world’s largest oil companies. Exxon is currently under investigation in several states for possibly violating state laws by deceiving shareholders and the public about climate change, while Tillerson himself has misinformed about climate science and mocked renewable energy. Yet according to Mike Barnicle, a regular on MSNBC’s Morning Joe, “Rex Tillerson is a huge green guy.” And alas, no, we don't think he was comparing Tillerson to the Jolly Green Giant or the Incredible Hulk.

    5. Disregarding Everything Trump Has Said And Done On The Subject, MSNBC’s Joe Scarborough Claimed “I Just Know” Trump Believes In Climate Science. On Morning Joe, co-host Joe Scarborough defended Trump after it was announced he had selected Pruitt, a climate science denier, to lead the Environmental Protection Agency (EPA). Scarborough -- who along with co-host Mika Brzezinski has repeatedly carried water for Trump -- insisted, “I just know” that Trump “has to believe” in climate science.

    Scarborough’s comments followed a wave of TV coverage about how Trump had supposedly “reversed course” on climate change, which was based on a New York Times interview in which Trump said he has an “open mind” about the Paris climate agreement and that “there is some connectivity” between human activities and climate change. But few of these reports addressed any of the substantive reasons that such a reversal was highly unlikely, such as his transition team’s plan to abandon the Obama administration’s landmark climate policy, indications that he will dismantle NASA’s climate research program, and his appointment of fossil fuel industry allies as transition team advisers -- not to mention the full context of Trump’s remarks to the Times.

    6. Trump Adviser Stephen Moore: Being Against Fracking “Is Like Being Against A Cure For Cancer.” While discussing his new book Fueling Freedom: Exposing the Mad War on Energy on C-SPAN2's Book TV, conservative economist and Trump economic adviser Stephen Moore stated that opposing fracking “is like being against a cure for cancer” because it is “one of the great seismic technological breakthroughs” that is “giving us huge amounts of energy at very low prices.” Never mind that many of the chemicals involved in fracking have actually been linked to cancer. 

    7. Stephen Moore: “We Have The Cleanest Coal In The World.” Moore’s preposterous praise for fossil fuels wasn’t just confined to fracking. On Fox Business’ Varney & Co., he declared that the U.S. has “the cleanest coal in the world.” That statement is quite difficult to square with the fact that “Coal combustion contributes to four of the top five leading causes of death in the U.S.—heart disease, cancer, stroke, and chronic lower respiratory diseases—according to Physicians for Social Responsibility,” as Climate Nexus has noted.

    Pro-coal propaganda also found a home on Fox Business’ sister network, Fox News, where The Five co-host Greg Gutfeld asserted that “coal is a moral substance. Where coal reaches, people live longer, happier lives.”

    8. Breitbart’s James Delingpole: Climate Change Is “The Greatest-Ever Conspiracy Against The Taxpayer.” In an article promoting a speech he gave to the World Taxpayers’ Associations in Berlin, Breitbart’s James Delingpole wrote: “Climate change is the biggest scam in the history of the world – a $1.5 trillion-a-year conspiracy against the taxpayer, every cent, penny and centime of which ends in the pockets of the wrong kind of people.” In the speech itself, Delingpole similarly claimed that “the global warming industry” is “a fraud; a sham; a conspiracy against the taxpayer.”

    Breitbart, which was until recent months run by Trump’s chief White House strategist Stephen Bannon, has frequently denied climate change and viciously attacked climate scientists. Delingpole, in particular, has described climate scientists as “talentless lowlifes” and referred to climate advocates as “eco Nazis,” “eco fascists,” and “scum-sucking slime balls.” Bannon has criticized Pope Francis for succumbing to “hysteria” about climate change; The Washington Post has written about how Bannon influenced Trump’s views on the issue during his time at Breitbart.

    9. Fox Report On Law Gas Prices: “Put The Tesla In The Garage And Break Out The Hummer.” Just 10 days after Trump was elected president, Fox News began giving him credit for low gas prices, the latest proof of the network’s blatant double standard when it comes to covering gas prices under Republican and Democratic presidents. But simply shilling for Trump was apparently not enough for Fox Business reporter Jeff Flock, who provided the slanted gas prices report on Fox News’ America’s News Headquarters. At the conclusion of the report, Flock also displayed a brazen lack of concern about climate change, declaring: “I would say put the Tesla in the garage and break out the Hummer.”

    10. Wall Street Journal’s Mary Kissel Instructed Viewers To “Trust” A Climate Science-Denying Fossil Fuel Front Group. In a video interview posted on The Wall Street Journal’s website, Journal editorial board member Mary Kissel instructed viewers who are “confused about the science surrounding climate change” to “trust” Rod Nichols, chairman of a climate science-denying fossil fuel front group known as the CO2 Coalition. During the interview, Nichols denied that human activities such as burning oil and coal are responsible for recent global warming, claiming that “climate change has been going on for hundreds of millions of years,” “there is not going to be any catastrophic climate change,” and “CO2 will be good for the world.” Kissel asked Nichols, “Why don't we hear more viewpoints like the ones that your coalition represents,” and concluded that the CO2 Coalition’s research papers are “terrific.”

    The Wall Street Journal has made a habit of “trusting” climate science deniers like Nichols -- or at least repeating their false claims about climate science. A recent Media Matters analysis of climate-related opinion pieces found that the Journal far outpaced other major newspapers in climate science misinformation, publishing 31 opinion pieces that featured climate denial or other scientifically inaccurate claims about climate change over a year-and-a-half period.

    11. Fox Host Clayton Morris: Rubio's Climate Science Denial At Presidential Debate Was An "Articulate Moment.” During a Fox News discussion of Florida Sen. Marco Rubio’s performance at a CNN presidential debate, Fox and Friends co-host Clayton Morris described Rubio’s claim that the climate is “always” changing -- a common talking point among climate science deniers -- as “a really articulate moment.” 

    While Morris’ endorsement of Rubio’s climate denial as “articulate” is particularly striking, a 2015 Media Matters analysis found that media frequently failed to fact-check GOP presidential candidates’ climate change denial.

    12. Fox Hosts Mocked Leonardo DiCaprio's Oscar Speech On Climate Change: "Focus On Something Else Other Than The Weather.” When actor Leonardo DiCaprio took home the Oscar for best actor for his role in The Revenant, the hosts of Fox News’ The Five and Fox and Friends mocked DiCaprio for devoting much of his acceptance speech to making the case for climate change action. On The Five, co-host Jesse Watters declared, “So the guy finally gets an Academy Award and he's talking about the weather. What's going on here?” Co-host Eric Bolling helpfully added, “Focus on something else other than the weather.”

    That wasn’t the only time in 2016 that DiCaprio was caught in Fox News’ crosshairs for having the nerve to talk about climate change. Later in the year, The Five aired footage from an event in which President Obama criticized congressional climate deniers and DiCaprio said, “The scientific consensus is in, and the argument is now over. If you do not believe in climate change, you do not believe in facts, or in science, or empirical truths, and therefore in my humble opinion should not be allowed to hold public office.” The Five co-host Greg Gutfeld then responded by likening criticism of climate science deniers to religious extremism, saying: “You have to wonder about a belief system that doesn't want any challenges, that doesn't want any of their theories to be questioned. This -- what he is talking about is radical Islam of science. He is actually turning science into a religion.”

    13. Fox’s Meghan McCain: "The Liberal Hysteria Over Climate Change Was So Overblown That Now People Have A Hard Time Even Believing It.” Rather than criticize conservatives or Republicans who frequently deny climate science, Fox News host Meghan Mccain blamed liberals for public confusion about climate change, declaring on Fox News' Outnumbered that “the liberal hysteria over climate change was so overblown that now people have a hard time even believing it and believing that it's something that's justified.” McCain, who also mocked Democratic presidential nominee Hillary Clinton for campaigning on the issue with Al Gore, added, “I do think there are signs we should look at, but if Al Gore, if you take his word for it, there's a big flood that's going to come in and wipe us all away in five minutes.”

    McCain is the daughter of Sen. John McCain (R-AZ), who notoriously flip-flopped on climate change legislation in 2009, undercutting congressional efforts to address the issue.

    14. Fox’s Steve Doocy: Obama’s Monument Designation Was Done To “Appease Environmental Terrorists.” On Fox & Friends, co-host Steve Doocy declared that President Obama’s designation of the first marine monument in the Atlantic Ocean was “done to appease environmental terrorists.” Not so shockingly, Doocy and his co-hosts did not comment when their guest, Deadliest Catch’s Keith Colburn, acknowledged that "increased water temperatures" from climate change are impacting fisheries across the United States.

    15. Fox Hosts Flipped Out About Portland Public Schools Decision To Stop Teaching Climate Denial To Children. In May, the Portland Public Schools board unanimously approved a resolution “aimed at eliminating doubt of climate change and its causes in schools.” But while climate science denial may no longer be taught in Portland public schools, it still has a place on Fox News, as the hosts of Outnumbered demonstrated in their flippant response to the resolution.

    Co-host Lisa Kennedy Montgomery said the Portland schools decision is “so anti-scientific,” adding, “There are still scientists, believe it or not, out there who say, ‘No, we still have to look at the data.’ And it's impossible to predict how the climate is going to change over hundreds or thousands of years.” Co-host Jesse Waters remarked, “So getting out of the ice age, how did the Earth warm up after the ice age? There were no humans there with cars and factories.” He also stated, “It gets hot, it gets cold, this spring has been freezing. It's not getting warmer, it seems like it's getting colder. Am I wrong?”

    But Fox News pundits aren’t just defenders of teaching climate science denial; they’re also partially to blame for it, according to researchers at Southern Methodist University (SMU). Last year, the SMU researchers released a study that found some children's textbooks that depict the reality of human-caused climate change with uncertainty are influenced by a climate science knowledge gap that finds its roots partly in conservative media misinformation. In particular, the SMU researchers pointed to previous research that showed Fox has disproportionately interviewed climate science deniers and that its viewers are more likely to be climate science deniers themselves.

  • Twofer: Editorial Proves Wall Street Journal Is In Denial About Fracking AND Climate Change

    Blog ››› ››› ANDREW SEIFTER

    The Environmental Protection Agency’s (EPA) final report on the drinking water impacts of hydraulic fracturing (aka fracking) has provoked howls from The Wall Street Journal’s editorial board, which blasted EPA analysts as “science deniers” pushing “fake news.” But the editorial’s deeply flawed reasoning is the latest evidence that the Journal is in denial when it comes to scientific findings that conflict with its pro-fossil fuel agenda, whether they relate to fracking or climate change.

    In the December 18 editorial, the Journal misrepresented the changes the EPA made to its draft version of the report, which was released in June 2015:

    After being barraged by plaintiff attorneys and Hollywood celebrities, the EPA in its final report substituted its determination of no “widespread, systemic impact” with the hypothetical that fracking “can impact drinking water resources under some circumstances” and that “impacts can range in frequency and severity” depending on the circumstances.

    [...]

    The EPA now asserts that “significant data gaps and uncertainties” prevent it from “calculating or estimating the national frequency of impacts.”

    In reality, all of the findings the Journal pointed to in the final version of the report were also present in the draft version. The draft version stated that “there are above and below ground mechanisms by which hydraulic fracturing activities have the potential to impact drinking water resources,” identified “factors affecting the frequency or severity” of those impacts, and acknowledged that "data limitations" prevent the agency from having "any certainty" of how often fracking has actually impacted drinking water.

    The one change the Journal correctly identified was that in the final version of the report, the EPA rescinded its draft conclusion that there was no evidence fracking has “led to widespread, systemic impacts on drinking water resources.” But contrary to the Journal’s claim that the EPA disavowed that finding because the agency had been “barraged by plaintiff attorneys and Hollywood celebrities,” it was actually changed after the EPA’s scientific advisory board, which evaluates the agency’s “use of science,” pointed out that the draft conclusion wasn’t supported elsewhere in the report:

    The [Science Advisory Board] has concerns regarding the clarity and adequacy of support for several major findings presented within the draft Assessment Report that seek to draw national-level conclusions regarding the impacts of hydraulic fracturing on drinking water resources.

    [...]

    Of particular concern in this regard is the high level conclusion statement on page ES-6 that “We did not find evidence that these mechanisms have led to widespread, systemic impacts on drinking water resources in the United States.” The SAB finds that the EPA did not support quantitatively its conclusion about lack of evidence for widespread, systemic impacts of hydraulic fracturing on drinking water resources, and did not clearly describe the system(s) of interest (e.g., groundwater, surface water), the scale of impacts (i.e., local or regional), nor the definitions of “systemic” and “widespread.” The SAB observes that the statement has been interpreted by readers and members of the public in many different ways. The SAB concludes that if the EPA retains this conclusion, the EPA should provide quantitative analysis that supports its conclusion that hydraulic fracturing has not led to widespread, systemic impacts on drinking water resources.

    EPA Deputy Administrator Tom Burke recently confirmed that the EPA chose to remove the “no widespread, systematic impacts” language after receiving feedback from the science advisory board, and “Burke said the EPA opted to remove the phrase because it ‘could not be quantitatively supported’ and it ‘showed that sentence did not clearly communicate the findings of the report,’" as American Public Media reported.

    The Journal further claimed that “the EPA’s faulty construction of a monitoring well caused contamination” in Pavillion, WY, citing that situation as an example of how “any technology has the potential to inflict some damage” if mismanaged. However, that claim – which has been pushed by a fossil fuel industry front group – has been debunked by experts at Stanford University, as the Casper Star-Tribune reported:

    Industry critics once argued samples from the EPA’s groundwater monitoring wells should be discounted because of faulty construction. But the compounds found in those monitoring wells are more commonly associated with fracking—not the cements used to encase a well, [Stanford researchers Dominic DiGiulio and Robert Jackson] say.

    The Journal concluded its editorial by asserting that it is “ironic” that liberals who “denounce anyone who cites uncertainties about carbon’s climate impact as ‘deniers’” are now “justifying their opposition to fracking based on scientific uncertainties.” As quite possibly the most frequent purveyor of climate science misinformation in the entire media landscape, the Journal has rightly received substantial criticism for its climate denial. The difference, of course, is that there is near-universal scientific consensus that carbon pollution is warming the planet, whereas both the draft and final versions of the EPA report show that no such consensus yet exists about the impacts fracking has had on drinking water resources.

    Such false equivalency only goes to show that the Journal editorial board is in denial about both climate change and fracking.

  • News Reports Uncritically Portray Exxon CEO Rex Tillerson As Climate Change Advocate

    ››› ››› KEVIN KALHOEFER & ANDREW SEIFTER

    Several media outlets reporting on President-elect Donald Trump’s selection of Rex Tillerson as secretary of state have uncritically described Tillerson as accepting of climate change and supportive of a carbon tax. But these reports ignored scientifically inaccurate claims Tillerson has made about climate change, Exxon’s continued financial support of groups that deny climate science, inconsistencies by both Tillerson and Exxon on whether they truly support a carbon tax, and fierce opposition to Tillerson’s nomination from leading environmental groups -- not to mention the fact that Exxon is under investigation in several states for possibly violating state laws by deceiving shareholders and the public about climate change.

  • News Outlets Learn The Hard Way Not To Trust Trump’s Tweets

    The President-Elect Drives Misleading News Coverage 140 Characters At A Time

    Blog ››› ››› CRAIG HARRINGTON

    Since his victory, President-elect Donald Trump has used his Twitter account to generate positive news about himself across the spectrum of media platforms, implanting misleading narratives about his business and economic acumen into national news -- sometimes for days at a time. Reports on the tentative nature of jobs he had supposedly “saved” at an Indiana factory offer a perfect example of why journalists should be wary of treating the president-elect’s boasts as newsworthy.

    On November 30, Fortune magazine reported that Trump had struck a deal with Indiana-based appliance manufacturer Carrier to provide taxpayer-funded incentives to the company if it agreed to keep several hundred jobs in the United States. In a tweet, Trump boasted that he would soon meet “the great workers of Carrier,” proclaiming that “they will sell many air conditioners!” Broadcast and cable news outlets heaped praise on the president-elect’s “symbolic coup.” In a December 1 speech at the Carrier facility in Indianapolis, Trump took credit for saving “over 1,100 jobs” and said the number of jobs kept safe “is going to go up very substantially.”

    A few days later, the flimsy Carrier story had completely fallen apart.

    Initial reports detailed how, in exchange for a multimillion dollar handout, the manufacturer was only keeping some jobs in Indiana -- the rest were still going to Mexico. By December 6, Chuck Jones, the president of the United Steelworkers (USW) Local 1999, was irate that hundreds of union jobs were still scheduled to be outsourced after Trump had promised to save them, according to The Washington Post. “For whatever reason,” said Jones, the president-elect “lied his a-- off.” During a December 7 interview with CNN, Carrier employee T.J. Bray compared the farce to “a dog and pony show” and expressed his disappointment that “we are still losing a lot of workers.”

    On December 9, CNNMoney reported that some of the millions of taxpayer dollars doled out as part of the Carrier deal “will be invested in automation” that will soon “replace some of the jobs that were just saved.” According to Carrier, automation is the only way they can compete with low-cost labor in Mexico. CNNMoney correctly reported that the sharp decline in American manufacturing employment is “thanks in large part to more efficient factories.” Workforce automation has been a fact of life since the 1800s, but that point was obfuscated by Trump, who misled workers at Carrier and around the country, many of whom think they are losing their jobs to free trade and immigration.

    The days-long saga of news outlets cutting through the spin on this Carrier deal, which included the president-elect attacking Chuck Jones on Twitter, resulting in Jones receiving death threats from Trump supporters, follows a familiar pattern.

    Trump tweeted that he had single-handedly kept a Ford plant from moving to Mexico, on November 17. Conservative media outlets rushed to give him credit and many mainstream outlets followed suit, but, upon further investigation, it turned out that Ford’s decision had nothing to do with Trump. The plant “was never moving to Mexico” to begin with and no jobs were on the chopping block.

    On December 6, Trump tweeted that “costs are out of control” on what he claimed was a “more than $4 billion” contract between Boeing and the U. S. government to update Air Force One. Trump concluded his tweet with “Cancel the order!” As Trump’s tweet drove news coverage, Boeing shares plunged more than 1 percent -- an almost $1 billion hit to the company’s market capitalization. Hours later, a fact-check from The Washington Post revealed that almost every word in the tweet was exaggerated, false, or misleading but the damage had already been done. Trump’s intervention set such a dangerous precedent that even Fox News’ Karl Rove was aghast.

    Later on December 6, Trump staged an impromptu press availability in the elevator lobby of Trump Tower with Japanese telecommunications mogul Masayoshi Son. In a brief statement and corresponding tweets, Trump claimed credit for landing a $50 billion investment commitment that would create 50,000 jobs and national media spent the rest of the day praising him. ThinkProgress editor Judd Legum predicted that Trump’s “formula for manipulating the public” through “substance-free tweets” and fawning media would succeed because “people will have largely moved on” by the time reporters uncovered the details. He was right. The next morning, reports from The Wall Street Journal, CNBC, and CNN showed that Trump may have had little influence on the deal.

    The problem of media amplifying his misinformation isn’t confined to economic policy. A November 27 tweet falsely claiming Hillary Clinton received “millions” of illegal votes generated so much media attention that it has become gospel for many Trump supporters. PolitiFact, which traced the illegal voter conspiracy to Trump ally and 9/11 truther Alex Jones, rated the claim “False”, calling it "obscenely ludicrous.”

    The fact that Trump’s boasts always seem to crumble in the face of modest scrutiny is a telling sign. Media outlets need to stop letting Trump’s tweets dictate and drive the news cycle and stop accepting his self-promotion at face value.